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The latest news and updates from NAIC, the largest network of diverse-owned private equity firms and hedge funds.

The Largest Network of Diverse-Owned Private Equity Firms and Hedge Funds

NAIC Perspectives: Finding the Gems in Healthcare

An effective investment team is one of the most critical components of a money management firm. In this installment of Perspectives, NAIC's online video series, Avinash Amin, MD, Co-Founder and Managing Partner of Madryn Asset Management, shares his firm's investment strategy, decision-making process and how they deliver superior risk-adjusted returns. Madryn invests in innovative healthcare companies specializing in unique and transformative products, technologies, and services.

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Texas TRS Emerging Manager Director on Diversity and Asset Allocators

Kirk Sims was tapped earlier this year to head the $5.7 billion Emerging Managers Program of the Teacher Retirement System of Texas. Sims, who formerly spearheaded the $750 million Emerging Manager Program for Teachers Retirement System of Illinois, will directly oversee the deployment of $3 billion in capital to emerging managers over the next 3-5 years under Texas TRS' Emerging Manager 3.0 Program. In this Q&A, Sims discusses his responsibilities, the fund's goals and how diverse and emerging managers fit into those objectives.

To read the full article: click here.

Kresge Foundation CIO Pens Op-Ed on Lack of Diversity in Financial Industry

There has been little change with regards to diversity and inclusion within finance with 98% of the sector under the control of investment firms headed by white men. Rob Manilla, Chief Investment Officer of The Kresge Foundation, addresses the lack of a true meritocracy and systemic bias in asset management in an Op-Ed penned for the Financial Times titled "White men run 98% of finance. Can philanthropy bring change?" The Kresge Foundation, a U.S. philanthropic private foundation headquartered in Troy, Michigan, pledged to increase its $2 billion US endowment assets managed by diverse-owned firms from its current 13% to 25% by 2025.

To read the op-ed, click here.

Pacific Pension & Investment Institute President, Lionel C. Johnson, Confirmed for NAIC Conference!

Lionel C. Johnson, President, Pacific Pension & Investment Institute, is among the confirmed speakers for the National Association of Investment Companies Annual Private Equity and Hedge Fund Conference. Scheduled for October 23-24, 2019 at UCLA's Luskin Conference Center, the largest gathering of diverse investment managers provides an unparalleled opportunity to network with top-performing dealmakers as well as capital allocators representing trillions in assets to invest. Johnson's session, Global Perspectives: Stewarding the Worlds Assets in Uncertain Times will detail Pacific Pension & Investment Institute's programming, networking, outreach, and how their work helps navigate global market shifts.

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Nominate Your Firms Rising Stars Now!

Now is the time to showcase the young talent in your firm! The NAIC is accepting nominations for its Rising Star Award, which recognizes outstanding young professionals in the financial services industry. The award will be presented during the NAIC Annual Private Equity and Hedge Fund Conference, October 23-24 at UCLA's Luskin Conference Center.

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Time is Running Out! Young Professionals Invited to Apply for NAIC Conference Scholarships

NAIC invites young professionals employed within financial services to apply for a scholarship to the NAICs Annual Private Equity and Hedge Fund Conference in Los Angeles. This is an unparalleled opportunity to network with seasoned executives and learn about current industry trends and best practices. The NAIC conference scholarship provides free registration to the conference for those employed in the financial services industry for no more than seven years. The application process includes a 250-word essay on one of three subjects listed on the application form. Applications must be received by July 31, 2019. Accepted applicants will be notified on August 15, 2019.

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Career Opportunities Showcased on NAIC Website

As part of our ongoing mission to bring greater diversity to financial services, the NAIC website lists exciting career opportunities at some of the most respected firms within the private equity and hedge fund industries.

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MEMBERS IN THE NEWS

DPI to Sell Stake in Eaton Towers Holdings in Approximate $1.85 Billion Deal

Development Partners International (DPI) announced the sale of its funds total holdings in Eaton Towers Holdings to American Tower Corp. (NYSE: AMT). Eaton Towers owns and operates over 5,500 towers across five African markets. The sale will give Eaton Towers an enterprise valuation of approximately $1.85 billion, subject to customary closing adjustments. Eaton Towers provides shared site and tower services for telecom network operators across multiple African countries, including Ghana, Uganda, Kenya, Burkina Faso, and Niger. The business primary services include building, acquiring, and maintaining passive telecommunications infrastructure assets. Eaton Towers customers include some of the major African mobile operators such as Airtel, MTN, Orange, Tigo, Vodacom, and Vodafone.

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Travelport Worldwide Acquired by affiliates of Siris Capital and Evergreen Coast Capital

Travelport Worldwide Limited announced the completion of its acquisition by affiliates of Siris Capital Group, LLC and Evergreen Coast Capital Corp. in an all-cash transaction valued at approximately $4.4 billion. Travelport is a leading travel technology company that operates a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. Travelport has a leading position in airline merchandising, hotel content and distribution, car rental, mobile commerce, and B2B payment solutions. The company is headquartered in Langley, U.K., and has over 3,700 employees and is represented in approximately 180 countries and territories.

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Vista Equity Partners to Acquire Black Mountain Systems

Black Mountain Systems, LLC, a leading provider of workflow software solutions to credit investors and alternative asset managers, announced that it is being acquired by Vista Equity Partners. Black Mountains software and data aggregation capabilities provide mission-critical solutions and insights to a customer base that includes 50 of the top 100 Collateralized Loan Obligation managers, leading private debt funds, commercial banks and alternative asset managers, representing more than two trillion dollars in total assets under management.

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Dynamk Welcomes New Team Members

Dynamk Capital announced that Dr. Gustavo Mahler and Sebastien Latapie have joined the firm as Venture Partner and Senior Venture Associate, respectively. Dr. Mahler brings a wealth of industry knowledge specifically related to the development and commercialization of biologics and was a key player in the sale of CMC Biologics to the Asahi Glass Corporation for EUR 520 million in 2017. As a manager at New Markets Advisors, Sebastien applied market research and entrepreneurial thinking to help pharma, med device and healthcare companies develop innovative and sustainable growth strategies. Prior to New Markets, Sebastien was a biochemistry researcher at the Goodman Cancer Center in Montreal working in the fields of kidney cancer and genome analysis.

Palladium Equity Partners Names Two New Managing Directors and a Principal

Palladium Equity Partners, LLC announced that it has promoted its investment professionals Chris Allen and Leon Brujis to the position of Managing Director, and Alex Funk to the position of Principal. Palladium also announced the promotions of Ilan Szekely to Vice President; Scott Kirschner to Senior Associate; and Nikhil Gavai to Associate. Prior to Palladium, Allen was an investment professional at Arlon Capital Partners, and before that at GenNx360 Capital Partners and Windjammer Capital Investors. Brujis previously worked for the mergers and acquisitions group at Lehman Brothers. Previously, Funk was a Senior Associate at ABRY Partners. Before joining ABRY, he was an Investment Banking Analyst in the Global Healthcare Group at Bank of America Merrill Lynch.

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